Understanding the Complexities of ERC

National accounting firm and LeadingAge National partner FORVIS has shared some helpful resources related to the Employee Retention Credit (ERC): a free webinar on applying the ERC to long term care (LTC) settings and an article on how to satisfy the Internal Revenue Service (IRS) requirements for documentation and substantiation. The webinar’s relevant highlights for members include how to evaluate whether a government order applies, specific examples of partial suspension of business operations (e.g., the Centers for Medicare and Medicaid Services (CMS) orders restricting visitors, third-party service providers, and occupancy), and how to show a measurable decline that satisfies “nominal impact,” such as a decline in census or patient days. Additionally, the webinar reviews how to claim the Paycheck Protection Program (PPP) loan and ERC correctly for the same eligible quarters and the importance of including health care benefits paid into the wage calculations. Both resources offer members additional insights into the ERC application process for LTC providers and answer key questions that members pose frequently about the IRS and the risk of audit.